Behind the Money
Citigroup reboots
Nov 15, 2023
Citigroup's restructuring plan led by CEO Jane Fraser, the challenges faced by the bank, and her determination to bring significant changes. Discussion of managing layoffs, future goals including building relationships, growth in wealth management, and maintaining a competitive investment bank.
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Quick takeaways
- Citigroup's CEO, Jane Frazier, is leading a major restructuring plan to address the bank's challenges of a cumbersome bureaucracy and limited stock price performance.
- Frazier's restructuring plan involves shifting away from the regional model, streamlining management structure, and focusing on building stronger relationships with international corporations.
Deep dives
The History of Citigroup and its Struggles
Citigroup, with its broad reach and international operations, has long struggled to compete with its peers in terms of stock price performance and overall strategy. The bank's reputation as a "financial supermarket" that offers everything to everyone has proven to be expensive and hindered by a cumbersome bureaucracy. Citigroup's CEO, Jane Frazier, aims to address these challenges with a major restructuring plan.
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